Pyxis Oncology (PYXS) Registration Filing summary

Company overview and business model

• Clinical-stage oncology company focused on unmet medical needs in solid tumors, with an immediate focus on head and neck squamous cell carcinoma (HNSCC).

• Lead product candidate is micvotabart pelidotin (MICVO), a novel antibody-drug conjugate targeting Extradomain-B Fibronectin in the tumor extracellular matrix.

• Incorporated in Delaware in 2018, with principal offices in Boston, MA.

• Operates as an emerging growth company and smaller reporting company, utilizing reduced disclosure obligations.

Financial performance and metrics

• As of September 30, 2025, 62,149,664 shares of common stock were outstanding.

• Net tangible book value per share was $1.07 as of September 30, 2025.

• Additional shares reserved for options, restricted stock units, and warrants, with potential for significant dilution.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including working capital, operating expenses, capital expenditures, preclinical studies, clinical trials, acquisition of product candidates or programs, and advancement of the lead product candidate.

• Management retains broad discretion over allocation and timing of expenditures.

• Pending use, proceeds will be invested in short-term, investment-grade, interest-bearing instruments.